INDUSTRY REPORT
enhanced cleansing performance and protection of garments .
Market trends
According to Mordor Intelligence , the refrigerator segment accounts for a significant market share of the global home appliance market .
“ Refrigerators are considered a safe , easy and convenient way to preserve food and food products . Rising disposable income , the availability of smart and energy-efficient refrigerator units and a widening base of nuclear families are leading to an upsurge in demand for refrigerators for household applications . Singledoor refrigerators are the most widely used door type as they are cost-efficient , easy to use and may or may not contain an inbuilt freezer . The French door refrigerators , on the other hand , are rapidly gaining popularity owing to the ease of usability and smart features introduced in these refrigerators . Nevertheless , market players are trying to come up with new models that have a minimum impact on the environment ,” outlined the analyst .
The analyst also confirmed that the Asia- Pacific region dominates the market for home appliances .
“ Regional brands ( including Haier ; Midea ; Gree ; Hisense from China ; Samsung ; LG from Korea ; Panasonic ; Sharp ; Hitachi from Japan and Videocon from
Samsung Electronics UK Ltd . launched its new single door Built-In Fridges and Built-In Freezers in March 2023 . Users can track their energy usage with SmartThings Energy and access energy tips on their smartphones .
integrated appliances . China has the highest demand for conventional air conditioners , by volume , across the globe owing to government policies that favour energysaving appliances , a growing property market and hot weather ,” confirmed Mordor Intelligence .
The home appliance market , it added , is highly fragmented with many players . In terms of market share , major international players include Whirlpool ;
Haier ; Samsung Electronics ; LG Electronics and Bosch . However , with technological advances and product innovations , mid-sized to smaller companies are increasing their market presence by securing new contracts and tapping into new markets .
Heating and cooling
In 2024 , the Bosch brand is expected to launch the first air-to-air heat pump that can be used to heat and cool buildings .
“ As it meets the requirements of the Federal Subsidy for Efficient Buildings ( BEG ), it is eligible for subsidies like any other Bosch heat pump ,” explained the manufacturer .
Carbon-neutral cold local heating networks , which are being set up in Germany and other countries , can make an important contribution to a
India ) largely dominate the market for home appliances in the Asia- Pacific region . The smart appliances market in Asia-Pacific is expected to grow at a rapid rate . Developed |
The Asia-Pacific region dominates the market for home appliances |
carbon-neutral building stock . In the
North Frisian municipality of Leck , the first phase of such a network is currently being built to supply
153 residential and commercial
|
countries ( such as Japan , Singapore , Hong Kong and Indonesia ) are expected to register an increase in the sales of smart appliances , mostly owing to the rising energy and labour costs , the high purchasing power of consumers and greater awareness about smart cities and smart |
buildings , each of which is connected to a Bosch brine-to-water heat pump , with heat and hot water . A central collector field extracts heat from the ground , providing a particularly efficient energy supply for the neighbourhood . |
Starting in 2024 , Bosch ’ s Buderus brand will offer hybrid heat pump |
systems that also enable existing older apartment buildings in urban |
neighbourhoods to meet the requirements of the German Buildings |
Energy Act . The heat pump takes on the main load of the supply |
and the supplementary condensing boiler is only switched on during |
peak demand . These hybrid systems can supply sustainable heat to |
neighbourhoods of up to 100 residential units . |
From summer 2024 , all Bosch ’ s air purifiers and mobile airconditioners |
will be controlled via the HomeCom Easy app , which is also |
used to control heat pumps . |
“ Modern energy management systems ensure an efficient and |
sustainable power supply for all consumers in the home . By distributing |
PV power intelligently and automatically , they can reduce electricity |
costs by up to 60 per cent ,” commented the manufacturer . |
On 6 February 2024 , Panasonic announced the launch of the |
WhisperComfort ® 60 Energy Recovery Ventilator ( ERV ). HVI-certified |
for energy recovery and sound , the new addition to Panasonic ’ s family |
AEG ’ s EcoLine equipment includes energy-efficient features . |
of ERVs furthers the company ’ s dedication to providing whole-house |
ventilation in an energy-efficient way . The new ERV provides a tempered |
Image : Shutterstock . com .
30 | ismr . net | ISMR April 2024